Miscellaneous

Beneficiary Options for Inherited IRA and 401(k) Accounts

This course is intended for practitioners and advisors who provide advice to both owners and beneficiaries of IRA and 401(k) accounts. Recent law changes in the SECURE Act 2.0, the SECURE Act, the CARES Act, and the issuance of proposed regulations in February 2022 (87 FR 10504), have created much confusion about required distributions and the various exceptions and special rules contained in them. This course provides an overview of the distribution options available for beneficiaries concentrating on provisions that allow for more spread out and tax advantageous distributions from inherited accounts. It also provides guidance for the accommodation of special beneficiaries such as surviving spouses, the disabled, minor children, and the use of trusts.

Learning Objectives:

After completing this course, participants will be able to:

  • Specify in general the types of retirement accounts.
  • Define the differences between qualified and nonqualified retirement plans.
  • Recognize the terms IRA, 401(k), and Roth IRA.
  • Determine the similarities and differences among IRA, 401(k), and Roth IRA accounts.
  • Recognize the term RMD and its ramifications relative to IRA and 401(k) accounts.
  • Determine the correct RMD amount for an IRA or 401(k) account holder.
  • Indicate the issues that arise upon the death of the 401(k)/IRA account holder.
  • Advise the beneficiary(ies) of the options available for an inherited retirement account interest.
  • Determine the special provisions that apply to interests passing to the decedent’s spouse.
  • Recognize the special rules applicable to Roth accounts.
  • Advise the beneficiary(ies) of the distribution options available for an inherited Roth account.
  • Identify the conduit and accumulation trust provisions.


Prerequisites/Advanced Preparation:

None

Speaker / Author:

Tim Dreyer, Instructor for Kaplan Financial Education.

Tim Dreyer has a 44-year career in tax, law, finance, and leadership. He served in top level positions in five IRS functions – Counsel, Appeals, Examination, Collection and the Taxpayer Advocate’s Office. After his retirement, he pursued another 17-year profession as a Subject Matter Expert and Director in PricewaterhouseCoopers’ Washington National Tax Service.

Tim has worked with over 100 of 500 companies, including 11 of the top 20. He worked with businesses and high-wealth individuals in more than 25 countries on six continents. He has extensive planning, advisory and consulting experience involving tax, finance, and valuation.

Tim has attended and taught thousands of hours of CPE, CLE, and undergraduate and graduate courses during his career. He taught law, finance, tax and ethics at three universities for over 20 years.

Tim holds a B.A. in Economics, a J.D. in Law and completed graduate studies in Finance and Tax. He is a licensed attorney.

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Price (USD)

Standard: $49.90

Details

Course Code : 99DRE02

Release Date : 11/08/2023
Expire Date : 08/31/2025
Credits :
CPE 2.00
QAS 2.00
Length : 1hr 40min
Course Level : Basic
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Miscellaneous

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